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SIPA RESOURCES: RIO TINTO AGREES $57M UGANDA NICKEL FUNDING

Kampala, May 14

Rio Tinto takes an option to earn up to 75% of Sipa's Kitgum-Pader nickel-copper project in Northern Uganda by funding $US57M exploration over 11 years.The deal, subject to due diligence, will also see Rio make staged payments of $2M in the Australian-based explorer.